Market research is essential for companies and brands in an age of ubiquitous connectivity and rapid market evolution. They are confronted with a formidable challenge: to adapt to increasingly informed and demanding consumers, anticipate emerging trends, and effectively integrate the growing impact of artificial intelligence into their business strategies and more broadly, into society as a whole.
In this complex context, market research for decision-making can make all the difference to the success of a company, a brand or a new project. This is much more than just an isolated task. Market research for the contrary, is part of a dynamic and continuous process of observation, analysis and adaptation at the very heart of the company.
When exploring this subject, two inseparable dimensions emerge:
- First, the crucial importance of timing: starting the study at the “RIGHT” moment.
- There is also a profound need for every company, regardless of its size or market position, to prioritize market research.
At Katrium OÜ, we can do market research for you! Schedule a meeting to know more about this.
When is the ideal time to conduct marketing research?
Well, it was… yesterday! In other words, it was before it was too late to influence the course of events, or even stop them if necessary. Research is not an answer to a desperate situation. It’s best done when the company still has the necessary room for maneuver to take action.
Whether it’s to understand customer expectations, shape the brand’s image, pre-test the next communication campaign or new concept, or measure consumer satisfaction, research takes time to integrate into a broader context and make a significant contribution.
Marketing research is not simply a phase of questioning, it’s a thoughtful process, a time to step back and gain a deeper understanding. Market research for your company can’t be improvised, it has to be anticipated. So what’s the right timing? That depends on the type of study and the objectives involved.
Conduct a pre-test (of communication, offer, concept, packaging) as early as possible.
Why? Once you receive the results, dedicate time to rework what was tested. Collaborate with the marketing teams or communications agency to revise the project. This revised version can then be tested as well.
Market research for a mass media communication post-test
Market research post-test ideally involves conducting the test in the days following the communication campaign launch, ensuring that consumers have had some exposure to it. This timing allows for gathering immediate feedback on the campaign’s effectiveness.
Market research for a customer satisfaction survey
You can conduct the feedback survey either “on the spot” immediately after the purchase or delay it slightly to allow customer familiarization. For instance, with a new vehicle purchase, question the customer after they’ve had a few days to use the car.
If the aim is to understand why the company is losing customers
Initiate the study once you observe a sufficiently large and repeated leak. This ensures you have a substantial volume of customers to question, but act before the issue becomes too severe.
As for an image assessment (corporate or brand)
It’s a good idea to conduct market research when the previous study has become outdated, or when you are planning major changes (such as rebranding or repositioning, communicating new values, etc.), or when significant market changes have occurred (such as the entry of a disruptive competitor).
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But what’s the point of carrying out a market research? Why is it useful?
The decision to conduct a marketing study arises from a compelling need to gain clearer insights and to be supported in your decision-making process. It’s a plunge beyond personal feelings and prejudices to listen to what the “market” has to say. It’s a way of dispelling doubts or reinforcing choices.
Gain a detailed understanding of your market and customers
- What are buying and consumption patterns?
- What are consumers’ expectations?
- Does my offer meet the needs and habits of my targets?
Identify opportunities for growth and innovation – the famous insights
- What are the emerging needs of tomorrow?
- What’s missing from my service offering today?
- How can I improve my product?
- What is important to my customers and would enable me to make a difference?
Reduce risks and allocate resources wisely (financial, human, logistical, etc.)
Based on the strengths and weaknesses of my offer, should I prioritize:
- Communication or shelf presence?
- Sales strategy or R&D development of my new packaging?
Market research for improving brand image and maintaining customer relations
- How do my loyal customers perceive me?
- And what about my occasional customers?
- What values does my brand stand for?
- Is it consistent with its positioning?
Conclusions
In short, marketing research isn’t just a collection of data: it’s an act of vision and foresight, an essential investment in the future, a powerful lever for staying in touch with your market and ahead of the game. Carrying out a marketing study is a bit like acquiring a powerful navigation tool, a kind of strategic compass that will guide your decision-making and help you get on course.Market research for companies becomes much more than an analytical process; it’s a real catalyst for change. Book a meeting with Katrium OÜ and let us help you with your market research needs.
